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Baxter International Inc.

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Company Research Report: Baxter International Inc.



Company Overview



Name: Baxter International Inc.


Mission: Uniting to Save and Sustain Lives


“Our mission to save and sustain lives is reflected in our business priorities and our commitment to be an agent of change at a global level. This means doing what is right for our planet, our patients and customers, our teams, and our communities.”

Founding Information:


  • Founded: 1931

  • Founded By: Dr. Ralph Falk and Don Baxter


Key People:


  • Chairman, President and CEO: José (Joe) E. Almeida

  • Key Executives:

  • James Borzi - Executive Vice President, Chief Supply Chain Officer

  • Stacey Eisen - Senior Vice President, Chief Communications Officer, President, Baxter International Foundation

  • Joel Grade - Executive Vice President, Chief Financial Officer

  • Heather Knight - Executive Vice President and Group President, Medical Products & Therapies

  • Chris Toth - Executive Vice President and Group President, Kidney Care


Headquarters:


  • Location: Deerfield, Illinois, USA


Number of Employees:


  • Total Employees: More than 23,000


Revenue:


  • 2023 Revenue: $4.5 billion


Company Notability:


  • Known For: Baxter is known for its role at the critical intersection of health supplies and healthcare technology with an extensive array of products catering to diagnostics, critical care, kidney care, nutrition, hospital, and surgical needs.




Products


Portfolio Overview:


Baxter offers a plethora of products and services spanning multiple areas of healthcare including primary care, hospital care, surgical care, kidney care, nutritional care, and respiratory care.

Key Products and Their Descriptions:



Home Peritoneal Dialysis:


1. Homechoice Claria Automated Peritoneal Dialysis System
  • Description: Offers user-friendly features and enables remote patient management through the Sharesource platform.


2. Amia Automated Peritoneal Dialysis System
  • Description: Features voice guidance and Sharesource remote patient management to assist patients in home PD therapy.


Hemodialysis:


1. HDx Enabled by Theranova
  • Description: Features an innovative membrane providing an expanded hemodialysis therapy targeting a wider range of molecules in the blood.


Nutritional Care:


1. Numeta G13E
  • Description: Only triple-chamber, ready-to-use parenteral nutrition product available for preterm infants at high risk of infection and malnutrition.


Hospital Care:


1. Hillrom Progressa Smart+ Bed
  • Description: Designed to meet evolving hospital needs, promoting quicker patient recovery with integrated innovations transforming it into a therapeutic device.


2. Starling Fluid Management Monitoring System
  • Description: Uses Bioreactance technology to provide non-invasive, accurate hemodynamic monitoring enhancing fluid assessment treatments.


Respiratory Care:


1. Hillrom Monarch Airway Clearance System
  • Description: High Frequency Chest Wall Oscillation therapy that aids in thinning and mobilizing secretions from airways.


2. Hillrom Volara System
  • Description: Combines three key lung expansion and secretion mobilization therapies in one device for hospital settings.


Digital Health Platforms:


1. Sharesource Remote Patient Management
  • Description: Digital health platform enabling secure remote monitoring and management of home dialysis patient treatments.




Recent Developments



New Products and Features:


1. Innovations in Hemodialysis:
  • Product: HDx enabled by Theranova

  • Feature: MEDIUM CUT-OFF (MCO) membrane targeting an expanded range of solutes.


2. Latest Advancements:
  • Product: Novum IQ large volume infusion pump with Dose IQ Safety Software

  • Launch: U.S. markets received the product to enhance infusion therapy.


Partnerships and Acquisitions:


1. Hillrom Acquisition:
  • Overview: Baxter and Hillrom have unified to address the evolving challenges in healthcare landscape.


2. Divestiture of Vantive Kidney Care Segment:
  • Agreement: Baxter has agreed to sell its Kidney Care segment, Vantive, to Carlyle for $3.8 billion.


Financial Updates:


1. Second-Quarter 2024 Results:
  • Revenue: Reported at $3.81 billion, a 3% increase.

  • GAAP diluted EPS: ($0.62)

  • Adjusted diluted EPS: $0.68, exceeding expectations.


2. Full-Year Guidance Updates:
  • Sales growth: Expected at 3%

  • Adjusted diluted EPS: Forecast between $2.93 to $3.01


Additional Financial Outlook Post-Vantive Sale:


  • Operational Sales Growth Target: 4%-5% annually.

  • Adjusted Operating Margin: Approximately 16.5% for 2025.




Corporate Commitment & Culture:


Corporate Responsibility:


  • Philanthropy: Over $143 million invested since 2021 to support underserved communities.

  • Environmental Initiatives: 150+ energy conservation projects reducing greenhouse gas emissions.


Diversity and Inclusion:


  • Initiatives: Prominent focus on building diverse, high-performing teams to address global healthcare needs.


Leadership and Governance:


  • Ethics and Compliance: Baxter maintains strict adherence to ethics and governance through proactive board oversight and comprehensive guidelines.




Conclusion:


Baxter International Inc. remains a pivotal entity in global healthcare with its diverse product portfolio, strategic industry moves, and robust revenue growth. The company's commitment to innovation, strategic realignment, and sustainability underscores its dedication to elevating healthcare delivery and creating lasting value for all stakeholders.